HSBC offers competitive interest rate on easy access savings account | Personal Finance | Finance


Zopa bank is also offering a competitive AER of 3.21 percent on its Smart Saver.

Zopa allows customers to open personalised pots, however, a maximum of £85,000 can be deposited to the account in total before account holders are no longer allowed to submit any more cash. There is no minimum deposit and interest is paid monthly.

The Bank of England Base Rate announcement is expected to take place next week. Analysts anticipate an increase of a quarter of a percentage point, taking the Base Rate up from four percent to 4.25 percent.

However, while the recent ONS labour market report indicates a slump in pay growth, investors are cutting their bets that this move will take place.

Pantheon Macroeconomics’ Samuel Tombs said the wages figures strengthened the case for a Bank of England rate pause after 10 rises in a row.



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